Principles of Marketing: Marketing Planning, Segmentation, and Targeting for a New Soft Drink Product

Principles Of Marketing

Table of Content.
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing planning process components and the marketing of new soft drink product...........1
Importance of adopting a marketing orientation..........................................................................3
PESTEL analysis for the new soft drink and highlighting the relevant micro environmental
factors such as dominant competitors in the industry..................................................................3
Micro-Environmental factors.......................................................................................................4
Importance of 7Ps model for effective marketing planning .......................................................4
SECTION – 2 .................................................................................................................................5
Elaborate segmentation for new soft drink for B2B and B2C market and it's.............................5
differentiation...............................................................................................................................5
Targeting methods that could be used for the B2C market including demographics, benefit,
behavioural and lifestyle..............................................................................................................6
Targeting consumers Characteristics ..........................................................................................6
Discuss the meaning of positioning and explain who this new soft drink has made it's position
in the mind of customers..............................................................................................................7
SECTION-3.....................................................................................................................................8
Analysis Of Marketing Mix.......................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
An idea of marketing which is followed by the businesses for developing the marketing
strategies are termed as principles of marketing. The principles of marketing are separated into
four major or three minor class. In 1940s, the 4p concept was developed and in early 1980s the
7p concept was introduced. This project report is prepared in the context of soft drink. It is a
drink which usually contain water, sucrose as well as natural or artificial flavouring agents. The
scenario are given, which discussed that the customer are paying more attention towards the
intake of healthy products. The company decided to launched the healthy soft drinks in order to
grab this opportunity. 'health plus drink' is the name of a soft drinks suggested by the company.
This health plus soft drinks is made of 100% fruit extracts or juice along with zero addition of
sugar. As honey is the healthier substitute of sugar. So, the company use honey as a substitute of
sugar while preparing the soft drinks. This project report including the component of marketing
planning process. The project also include the PESTEL analysis or competitor analysis of new
soft drinks. Apart from this, segmentation of new drink on behalf of B2B and B2C market is
explained in the project. Along with that the STP and marketing mix analysis is also explained.
MAIN BODY
Marketing planning process components and the marketing of new soft drink product
The marketing planning process is a method for developing the objectives, planning some
strategies as well as have implementation in the businesses. In order to attract the more customer
for gaining more profit its main focus is to identify the customer need and wants.
Some components of marketing planning process are mentioned below:
 Marketing research- It is the first as well as the most important components of the
marketing planning process. This process is used to identify the requirement of the
market, to know the current situation of the market as well as the future trends of the
market. The company perform this research with the help of its research and development
team (Kuehnl, Jozic and Homburg., 2019).
 Target market- This is also the important component of the marketing planning
process. This process identify that whom the products are to be sold. As per customer
taste and preferences, the whole population are divided into different segment.
1

 Product- The company which introduced the product in the market. It should be related
with the market trends as well as among the customer, it should have some value. The
company launched their products according to the current marketing trends.
 Competition- The company should focus while making the products that it have some
uniqueness. As the substitute of each and every products in the market are easily
available. The company continuously involve in the conceptualising the products
(Watson and et.al., 2018).
 Mission Statement- The objectives of the company achieved by a path is a mission. In
this statement the company has its objectives towards selling the products such as whom
they want to sell while providing the uniqueness in products.
 Market Strategies- The companies has to build some strategies in front of customers for
selling the products. As producing the products is not enough they need to promote the
products for selling out the product. The publicity can be done through various different
channels of promotion. The company used various marketing strategies for selling the
products are direct marketing, advertisement, social media marketing as well as many
other strategies.
 Pricing- The products price is to be set in such an order so that it can be fair for both the
customer or for the companies. The company divided the products in such a range so that
it can be affordable to every individuals.
 Budget- The company should have to decide some budget limit while investing. They
have to select their preferences such as they want to prefer in house sourcing or they want
to prefer out house sourcing (Konkina and Martynushkin., 2020).
 Marketing Goals- The company have to decide their goal at initial phase. So, in order to
achieve such goal the organisation work hard. The businesses goal of soft drink is that
they can provide the soft drink at affordable price to the consumer of all over the world.
 Evaluation of result- It should be necessary to monitor the products, machine, or many
other things by higher level authorities to check either they are on correct path or not,
after the implementation of the strategies. For evaluation, the company used different
tools or techniques.
2